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Paywell – Enabling Mobile Money Payments

An EMEA digital payment solutions provider facilitates mobile money payments that use the funds from telecom wallets, leveraging MNOs and increasing financial inclusion for the unbanked via using software and fintech development expertise.


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Project overview

In recent years, the use of mobile money as a means of payment has increased significantly in many developing countries, including Ghana. The Bank of Ghana states that the volume of mobile money transactions increased to 4.25 billion in 2021, a growth of 47.1% compared to 2020. However, many businesses still struggle to accept mobile money payments due to technical and logistical barriers. This is where, a payment service provider based in Ghana, saw an opportunity.

Paywell – Enabling Mobile Money Payments

About Paywell

Paywell Solutions Limited is a digital payment solutions provider from Ghana. The company was founded in 2018 with a mission to improve the payment experience for businesses and consumers in the country.

Since its inception, Paywell has grown rapidly and now serves over 400 active merchants in Ghana. Through its innovative payment solutions, Paywell has been able to establish itself as one of the leading payment service providers in the country.


Paywell’s mission is to improve the financial inclusion of unbanked people through its mobile payment acceptance system.  The idea of integrating mobile money payments into an existing POS network across Ghana would have enabled the creation of a payment acceptance system for merchants to use telecom wallets and mobile money payments. With this vision in mind, the company turned to

Apart from improving financial inclusion as a key factor, the main tasks of Paywell’s future mobile money payment acceptance product were to introduce a loyalty system for retailers, create a new level of visibility between the company and merchants, and create mobile applications for Android and IOS, to improve the overall UX for its customers.

Paywell – Enabling Mobile Money Payments

Loyalty system for retailers

Paywell – Enabling Mobile Money Payments

Enhanced reporting

Paywell – Enabling Mobile Money Payments

Mobile applications

Process provided its software platform as the foundation for the prospective digital system. In addition, successfully implemented the customizations Paywell requested, along with additional parameters for Paywell’s end-customers.

Key milestones:

  1. Static QR-code generation functionality. This feature allows merchants to initiate payments and generate QR codes for those payments. 
  2. Implementing transfer Notification API (from the Mastercard Notification Service API). 
  3. Support with user acceptance testing
  4. Implementation of API for Vodafone Debit.
Paywell – Enabling Mobile Money Payments

Business outcomes

Thanks to the deployment of the platform, Paywell has expanded its offering to include a range of services apart from payment acceptance, such as e-invoicing, digital wallets, P2P money transfer, POS payment, mass payment, QR code payment services etc.

Paywell – Enabling Mobile Money Payments
Customer base growth

Paywell has achieved remarkable success in the Ghanaian mobile money and payment processing market. The company has over 400 active merchants and has processed over 650000 transactions so far.

Enhanced customer experience

Ghanaian customers can now pay with their mobile money at numerous retail locations where Paywell POS terminals are present, improving the user experience and helping the unbanked population in Ghana.

Long-term effect on the financial ecosystem

The collaboration between and has enabled the creation of a mobile money acceptance system that meets the unique needs of the Ghanaian market. With the continued growth of mobile money and payment processing in Ghana, is well-positioned to further expand its services and impact the country’s financial ecosystem.

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